What you need to know
- Apple chip supplier TSMC has reported strong Q3 sales, with revenue up 10% YOY.
- 13.5% rise in net profit is strongest growth since Q1 of 2017.
- Introduction of 5G to smart phones should bring dramatic boost in 2020, plans to increase spending by $5 billion as a result.
Apple chip supplier TSMC has reported extremely strong Q3 performance fuelled by high smartphone demand, seeing its strongest growth since Q1 of 2017.
According to Reuters
Not only is TSMC reporting extremely strong performance to date, forecasts for the future are increasingly optimistic. Fourth-quarter revenue is expected to come in between $10.2-10.3 billion, up from $9.4 billion a year ago. Not only that, TSMC expects the demand for 5G next year to propel its performance even further. As a result it has raised its 2019 capital spending plan by nearly $5 billion. According to the report:
The news comes fresh off the back of analyst predictions suggesting that Apple will release four 5G capable iPhones next year. The fairly outlandish proposal was made by Dan Ives, who also reported "much better" than expected demand for the iPhone 11 in China.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9